A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.

Democrat Hillary Rodham Clinton called on President Bush on Monday to appoint "an emergency working group on foreclosures" to recommend new ways to confront the nation's housing finance troubles.

The New York senator said the panel should be led by financial experts such as Robert Rubin, who was treasury secretary in her husband's administration, and former Federal Reserve chairmen Alan Greenspan and Paul Volcker.

I am wondering how effective that could be. Sure, put these individuals into a financial think tank and they can come up with some proposals I am sure but how likely will anything coming from these three (great solutions or not) be popularly accepted?

Volcker draconian raise of rates will probably freak people out, though I think that may be a better approach than the race to zero as previously mentioned, but I think this is a very unpopular view for the general public.

Greenspan's already getting a lot of blame for the bubble mess we're in now anyway; I mostly disagree with this----he even gave a speech identifying his concern about low rates and the reactions of wall street---keyword search, 'irrational exuberance' and you should find an almost phrophetic line of questioning surrounding the possible dangers of sustained low inflation.

More concerning is a strategic approach toward the derivatives market. This seems to be the unexploded time bomb looming on the horizon.

While squatting in the property stolen by the dumb a$$ Hungarians from the late Senator Tom Lantos’s family, I highly recommend that you get the hell outta there before your body begins showing signs of Dracula symptoms.

Hillary will be the President of the USA for the next 2 terms, that is for sure.The question is how does one position their financial portfolio now, to prepare for this change.

IMHO, the day Hillary is formally recognized as the Democratic candidate is the turning point on Oil prices.

Both Bush and Mr. Empty suit Obamah are a bet for higher oil prices.

Hillary is a bet on energy independence.

PS. Russia treated the Hungarian rebel rousers in ’56 much nicer then the Hungarians treated their fellow citizens ten years prior.

Hillary Clinton go away? But Keith, she is a member of the Democrat party. The party you, and your fellow travelers endorsed with such zeal in 2006. How could she possibly be so wrong when a mere 18 months ago you were cheerleading her and her cohorts to take over?

And the MESSIAH OBAMA, you current politcial crush is even worse. For every $1 Hillary would spend to bail out housing, the MESSIAH OBAMA would spend $2.

Ahh but the MESSIAH OBAMA would bring about change. So I guess it all must be worth it.

Surprise surprise, when people lower the price by a significant amount instead of holding at their wish price they can sell their property!

"The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It was the biggest increase in a year and caught economists by surprise. They had been expecting a small decline.

The trade group reported that the median existing sales price in February fell to $195,900. That was the largest year-over-year drop on records that go back to 1999."

They want to be very careful inviting Paul Volker to the party. He will have Greenspan groveling on the floor like the lackey he is in the first 15 minutes. Volker would be the best thing that could happen to this country.

Can you say mark to market overnight? Let the dominoes begin? The man is made of iron.

Let every last one of these "victims" who "bought" more house than they could afford get foreclosed on. They deserve it, and they knew full well what they were getting themselves into. Yeah, mortgage brokers are lazy scum, but I've absolutely had it with this victim bullshit when it comes to homedebtors.

If you don't make your car payments, the repo man comes and takes it away, no matter that your car salesman was a slimebag and you claim that he tricked you. The same rule should apply here. Like I tell my customers when they try to weasel out of payment then bitch when I ding their credit: If you didn't read the contract, that's not my f*cking problem. You had the terms in front of you - not my fault if you signed without reading.

Besides, in foreclosure they'll get to live in the house for almost a year for free, with no payments, so I think that's more than fair in terms of giving them a financial boost.

Robert Rubin, one of the head honchos at ShittiBank, says that the taxpayers need to buy all of the mortgage timebombs from the banks to prevent banks from being insolvent. Of course we all know Greengas enabled this entire mess. The only decent name in there was Volcker, but he'll be out-voted 2-1 on every issue.

Wasn't Rubin part of Slick Willie's administration? And wasn't that the bestest of times economically? Or so the NY Times, ABC, CNN, et al keep telling me. So if he's on the committee, all will be well. And if we only had the courage to elect a woman president, why then it would be like the good old days with Clinton and Rubin running things. Maybe then yahoo will be at $400 again and pets.com will make it's triumphant comeback. Boy oh boy, I can't wait.

"Robert Rubin, one of the head honchos at ShittiBank, says that the taxpayers need to buy all of the mortgage timebombs from the banks to prevent banks from being insolvent. Of course we all know Greengas enabled this entire mess. The only decent name in there was Volcker, but he'll be out-voted 2-1on every issue."

From a financial point of view, this is not a bad idea if the pricing can be had on attractive terms... say you could buy up the whole ball of wax for say 20 cents on the dollar? Even with substantial losses headed this way due to default and after considering the time value of money, the government would make mucho deniro from the ho-moaners - it would be an invisible tax that they would not even know they were paying (kind of like inflation). You'd have a bit of a moral problem given that many of the citizen/ ho-moaners would then be in hock to their government for the very roof over their heads but it would not be the first time the US has sacrificed priciples to make a quick buck. Talk about workin' for the man.... wow.

If I were Uncle Sam, I'd be all over that action at 20 cents on the dollar.

I'm starting to wonder about this myself. It doesn't take a genius to realize that if you drop the lending rate down to next-to-nothing levels that you are going to damage a fiat currency to a breaking point.

You can count me among the people that now believe that our currency is being collapsed intentionally to bring on the North American Union and the Amero.

Too many of the Fed's actions have just been too bizarre to not be planned to some degree.

Hillary's right. She knows that headlines like that gets you elected in the land of the retard Americano. Once she gets elected, all that populist BS she was forced to say will go away, and then she'll be infinitely better president than Mr. Empty Suit Racist In the Closet Obama.

The Clintons are savvy politicians and know very well how stupid Americans are, hence Bush getting elected twice. Hence her increased popularity in the pools against the Messiah of MTV Pot Smoker retards, ghetto welfare parasites, and low life rappers...oh, and celebs who don't know the price of milk or who rent islands for $15k per day and get massages for $3k a pop (all with your money, btw).

See Ron Paul, for instance. He was telling the truth, but truth doesn't elect anyone in the land of the crook and imbecile Americano. Don't blame the Clintons, blame your own culture and low IQ. The Clintons are playing the game with mastery, so she can get elected and then go to work to clean the mess left by Republicans. Means to an end, so to speak.

That's why Ron Paul is getting pounded by every other candidate and ignored by the corrupt MSM. Either you're a politician or not. Telling the truth, being honest, or let the corrupt MSM walk all over you (like Ron Paul has allowed) won't get you far in this country.

That's why you see Obama telling how mad he's about Nafta, while at the same time his economic adviser is selling the country cheap to Canadians, even before getting elected. That's why you see the Clintons giving sh!t back to the corrupt MSM. I don't want sissy presidents. This MSM is so corrupt that when Obama is busted being racist with his nutcase pastor, Anderson Cooper apologizes for some true Americans revealing that disgusting behavior. Michelle Obama already said that she's not proud of her country, while earning over $300k per year to push paper in Washington.

Hillary will be your next president because of all that. Thank god because I'm tired of disastrous Republican administrations and the constant BS speeches of this USA & White People hater Obama. Look at the state of this country right now. That's 7 years of Republicans raping the country. Mr. Empty Suit No Experience Whatsoever Obama doesn't have the capacity or desire to clean the country he and his wife hate so much.

She's the only independent thinker who has been screaming for a year and a half for the fed to do SOMETHING! Bernake sits on his hands and or goes to the blogs for his advice...stupid jerk Bernake.I called a lender for a quote today and I got a phone message that they were in chapter 11 and no longer doing loans. And I do strictly commercial!I don't see anyone but Hillary trying to do anything and it's not even her department. Everyone else is asleep at the wheel. We can no longer "let the chips fall where they may" because where they fall is not going to be pretty. Can you say "depression soup lines?" At least SHE is the most fiscally conservative of the bunch. McCanine was asked if he thought the economy is bad and he said "Uh, I heard it was." DOH!

Maybe we can all print Obama dollars and start over. It would be printed with an insignea of "The big give away" no racism intended $$$$$...He'd say, "Economy? What will I do about the economy? Wait. I'll go ask Hillary and get back to you on that. Also, I'll have to hire Bill because he is a genius and knows how to get us out of this recession." DOH!

Once she figures out Greenspan is all washed up she'll give him his walking papers. At least this is a start to some real problem solving. It beats seeing Bernake on TV looking like he is a deer in headlights and telling us all that it's okay. CREDIT CRUNCH hits and spirals out of control, and he says, "No problem here now. Ain't it grand that the wind stopped blowing?" DOH!

If I wanted to prevent the country and the banks from becoming completely insolvement, I would requisition Ron Paul and Warren Buffett to my panel of experts. And I would follow through on their suggestions.

I don't think that Greenspan knew about the mortgage fraud and liar loans. The only ones that really had inside knowledge about the liar loans were the ones submitting loan applications and the real estate industrial complex (the commissioned salespeople ). The check and balance system went out the window .

A guy at Greenspans level isn't going to get a report regarding the quality of loan applications .

Greenspans mistake was to keep the interest rates to low for to long and not seeing a speculation market and to much of a global money supply . Greensspan is full of BS when he recently said that raising the rates would of not stopped the bubble . Greenspan likes to blame the problem on the money supply that he claims was out of his control . All he had to do was raise the rate really high and that would of stopped the fake real estate bubble .Greenspan has claimed he didn't get the sub-prime loan thing . Shouldn't a Fed Chairman be aware of loans and lending conditions if they are in charge of keeping credit markets flowing ?

Warren Buffett to my panel of experts. And I would follow through on their suggestions.

Maybe then we will achieve some level of normality.

Funny you said that because Warren Buffett, the second richest man in the world, is endorsing Hillary Clinton and not the Messiah Obama. That right there tells you something. Hmmm...tough decision, do I follow the idiotic Bill Richardson or Warren Buffett. Vote for Hillary, Warren Buffett is right.

Do really think that the Dems will clean the mess for the GOP before the presidential elections? Get real. Nothing will be done because by the time Hillary is the president, it'll be too late for bailouts since the last big wave of resets are in July 08. Hillary and the Dems know that.

Vote for Hillary because she's better than the other two disgraceful choices. And especially because the corrupt MSM is pushing McCain and Obama. Be a contrarian to the evil MSM, since they pushed the Iraq War and Bush/Cheney, too. If the corrupt MSM is pushing McCain and Obama 24/7, vote for Hillary.